NYC meet-ups

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This week in NYC I had the opportunity to attend different meet-ups. Two of them were related to hardware, the other was related to lean management.

I’m not an expert in hardware, but these two were the ones with better speakers and the quality of the speech was amazing. One of them was NY Hardware Start-up, the other NYC hardwired.

One of them published a useful presentation, that is not only useful for hardware projects, they are useful for any type of start-up.

Some notes I took:

  • The life-cycle of a product is around 18 months.
  • Never go to a round with a Venture Capital to offer more than 25% (in a couple of rounds you will be out).
  • The hardest part of the prototype phase is to say “no” to features.
  • First days are essential in KickStarter.
  • Market attraction, you cannot stop working on it.
  • Market validation, you cannot stop receiving real feedback.
  • As CEO you have to give return.
  • In one session the perfect number of team members for a start-up was 3, on the other one 8. 🙂
  • www.mcmaster.com is the most useful source of jigs & tools for hardware entrepreneurs.
  • The minimum # units to manufacture in China is 5000.
  • When you will be looking to reduce the price of the components, concentrate on the 3 main components, no more (pareto principle).
  • The packaging box will cost more than you think, take this into account during budgeting process.

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